Form 4: First Hawaiian Inc. Executive James M. Moses Reports Share Withholding for Tax Obligations

James M. Moses, Vice Chair and CFO of First Hawaiian, Inc., reports the withholding of 1,436 common stock shares to cover tax obligations related to vesting restricted stock units on January 3, 2025.

Summary

• On January 3, 2025, James M. Moses, Vice Chair and Chief Financial Officer of First Hawaiian, Inc. (FHB), had 1,436 shares of common stock withheld to satisfy withholding obligations.
• This withholding was in connection with the vesting of restricted stock units previously reported on a Form 4 filed on January 4, 2023.
• The price per share for the withholding was $25.9.
• Following the transaction, Moses directly owns 27,172 shares of First Hawaiian, Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. It's neutral in sentiment as it simply reports a standard practice.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily indicate a broader trend within the banking industry but reflects standard practices for equity-based compensation.

Comparison to Industry Standards

• Executive compensation practices, including the use of restricted stock units and subsequent share withholding for taxes, are common across the financial services industry.
• Comparable companies like Bank of Hawaii Corporation (BOH) and Central Pacific Financial Corp (CPF) also utilize similar equity compensation strategies for their executives.
• The specific number of shares withheld and the value depend on the individual's compensation package and the company's stock performance.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors as it is a standard executive compensation matter.

Key Dates